Quote of the Day
"The world is frequently messier and harder to understand than people acknowledge. We tell ourselves artificially tidy stories about why something happened and what will happen next."
(David Leonhardt)
Markets
- Josh Brown, "If there’s a massive crash and recession, there’s going to be a lot less fun and games to be played with inflated coin prices and collectible bullsh*t that no one really needs." (thereformedbroker.com)
- What makes something an asset a store of value? (evidenceinvestor.com)
Berkshire Hathaway
- Ten questions that should be asked at the Berkshire Hathaway ($BRK.A) annual shareholder meeting. (morningstar.com)
- Three questions Warren Buffett likely wouldn't answer. (behavioralvalueinvestor.com)
Companies
- Spotify ($SPOT) has not avoided the growth stock sell off. (ft.com)
- Netflix ($NFLX) can't just spend itself to success. (hollywoodreporter.com)
- Content moderation at scale, like Twitter ($TWTR), is no small thing. (fasterplease.substack.com)
Venture capital
- Early stage startups didn't see a drop off in Q1. (angellist.com)
- A crucial question for VCs is whether to follow-on or not. (tomtunguz.com)
Economy
- Still no sign of an increase in layoffs. (calculatedriskblog.com)
- American homeowners are in pretty good financial shape. (housingwire.com)
- But home buyers think it is a horrible time to buy a house. (wsj.com)
- What's holding back the oil patch recovery? Same stuff as the economy as a whole, supply disruptions and labor shortages. (texasmonthly.com)
Earlier on Abnormal Returns
- Longform links: Amazon logistics. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: unimaginable risks. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
Mixed media
- Adrian Woolridge, "The clash between workers and employers over returning to work is more than just a struggle over commuting and convenience, though it is certainly that. It is a clash over the meaning of work." (bloomberg.com)
- It's hard to overstate how big a shift work from home has been. (econofact.org)
- Post pandemic, child care workers are leaving the industry for good. (bloomberg.com)
